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The India Fund, Inc. Q4 2025 Commentary

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⚡ Quantum Brief
The India Fund underperformed its benchmark by 278 basis points in Q4 2025 despite a 1.92% gain, marking a disappointing quarter for Aberdeen Asset Management’s India-focused portfolio. Reliance Industries’ poor performance in the energy sector dragged down returns, contributing significantly to the fund’s relative underperformance during the period. Aptus Value Housing Finance, a financials holding, underperformed despite reporting strong September-quarter profitability, further weighing on the fund’s results. Negative stock selection in energy, financials, and healthcare sectors drove the underperformance, overshadowing broader market gains in the same quarter. India’s headline inflation remained below the Reserve Bank’s 4% medium-term target, providing a stable domestic economic backdrop amid the fund’s struggles.
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Aberdeen Asset Management173 FollowersFollow5ShareSavePlay(10min)CommentsSummaryPerformance in the final quarter of 2025 was disappointing - while the Fund rose by 1.92%, it underperformed the benchmark by 278 basis points.Within energy, Reliance Industries weighed on relative returns.In the financials sectors, the Fund's holding in Aptus Value Housing Finance underperformed despite the company reporting solid profitability for the September quarter.On the domestic front, headline inflation remained well below the Reserve Bank of India's 4% medium-term target. sankai/iStock via Getty Images Fund performance Performance in the final quarter of 2025 was disappointing: while the Fund rose by 1.92%, it underperformed the benchmark by 278 basis points. This was driven mainly by negative stock selection effects in the energy, financials, healthcare andThis article was written byAberdeen Asset Management173 FollowersFollowAberdeen Standard Investments is a leading global asset manager dedicated to creating long-term value for clients. To achieve this, we offer a comprehensive range of investment capabilities, as well as the highest levels of service. Overall, we manage $669.1 billion* on behalf of clients in 80 countries. In managing these assets, we employ over 1,000 investment professionals and provide client support from over 40 client relationship offices globally.

The Aberdeen Standard Investments brand was created in connection with the merger of Aberdeen Asset Management PLC and Standard Life Plc on 14 August 2017 to form Standard Life Aberdeen plc.Follow us on our Thinking Aloud blog: https://www.aberdeenstandard.com/en-us/us/investor/insights-thinking-aloud*June 30, 2019

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